Beginning in tax year 2018, with the implementation of the the Tax Cuts and Jobs Act, the Business Use of Home Form can be used with your Schedule C business. However, it can no longer be claimed as an itemized deduction on your Schedule A.
You can claim expenses related to the Business Use of Home if you use part of your home as:
- Your primary place of business on a regular basis
- The primary location that you meet with clients, patients, or customers
- Storage for inventory used in your business
- Daycare facility
The portion being claimed must be used:
- On a regular basis (you cannot store inventory one time and claim expenses)
- Exclusively for business and cannot be used for personal use